MARKET sentiments took a positive spin on improving China’s data flows, which was commodity supportive, ignoring the bearish views of IMF and OECD.
China’s exports recorded the strongest growth since February 2015, property markets continued to stage a comeback supported by a surge in new credit and 1Q2016 real GDP grew at 6.7%, meeting the median projection by economists. China’s home sales jumped 71% in March – its biggest gains since at least 2015 after People’s Bank of China lowered benchmark rates six times since November 2014. In response, the US dollar followed up its best day in more than a month to late-March highs against a currency basket along with strong flow of labour market data.
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